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    No. 422, April 24, 1858.] THE LEAD EJR. ...

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    Imperial Parliameintt ^^ Monday, April 1...

    the two millions of Exchequer bonds , he intended to maintain the principle of liquidation , but suggested that the actual payment might be postponed for the present , provided that such arrangements were made as would ensure their being ultimately cancelled . The chief re - duction of taxes had taken place in the Property and Income tax . The imposition of this tax hail excited innumerable controversies ; endless complaints were urged against its injustice , -which many vain attempts had been made to assuage ; and at length , in 1853 , a scheme had been adopted by Parliament for the gradual diminution and ultimate extinction of the impost at the end of a certain period . The war had since changed the circumstances of the country , both temporarily and permanently , by adding considerably to the public debt and

    the last few months there had been a considerable restoration of commercial confidence ; but , although he believed that the general condition of the county- is sound , and although there are indications of improvement , he could not indulge the belief that there would be a rapid return to the spirit of enterprise . The expenditure for the Tear 1858-9 , he thus estimated : — Funded and unfunded debt ... £ 28 , 400 , 000 Civil List , & c 1 , 900 , 000 Army ••• 11 , 750 , 000 Navy .... 9 , 860 , 000 Miscellaneous Civil Services ... 7 , 000 , 000 Revenue Departments ... ... 4 , 700 , 000 Liabilities 3 , 500 , 000 £ 67 , 110 , 000 The resources to meet these charges he estimated as follows : — Customs ... £ 23 , 400 , 000 Excise 18 , 100 , 000 Stamps 7 , 550 , 000 Land and Assessed Taxes ... 3 , 200 , 000 Property and Income tax ... 0 , 100 , 000 Post-office 3 , 200 , 000 Crown Lands ' 270 , 000 Miscellaneous 1 , 300 , 000 £ 63 , 120 , 000 There would thus be a deficit of 3 , 990 , 000 / . This deficiency was not occasioned by any falling off in the resources of the country : it was created by our having to pay debts and by the amount caused by the cessation of taxes . The War Sinking Fund ( . 1 , 500 , 000 / . ) , and the payment of 2 , 000 , 000 / . Exchequer Bonds , must come into the calculation , Mr * Disraeli denounced as absurd and extravagant the attempt to pay off debt when there is no surplus revenue disposable for . that purpose ; and stated that he proposed to rescind , or at any rate to postpone , any further payments on account of the War Sinking Fund . " This would retrench a million and a half from the charges of the year , and would leave only two millions and a half of deficiency' to be met . Respecting

    expenditure . Nevertheless , even in the face of a deficit , the Government did not intend to suggest any increase or suspension in the progressive diminution of this impost . There remained therefore a deficiency of 500 , 000 / . etill to be met , and this object could not be accomplished by a retrenchment of expenditure . The present Ministry had cut down thu estimates by 800 , 000 / ., and further remissions could not be made in heat and hasto , but must follow from a change in the policy of the country and the gradual accomplishment of economical reforms . To obtain the required income , he proposed to equalize the duties on Irish and British spirits , abolishing tho only remaining diilbrcntial duty still existing in the sister isle . From this source ho anticipated a gain of at least half a million , thus extinguishing the dolicit . It

    was , he conceived , still prudent to establish a surplus of revenue , on which account he thought a very moderate provision necessary , since large sums would becomo available for tho service of the year through ropnymonts from tho East India Company and the Sardinian Government , and of rnonoys advanced for public works . Tho only now tax therefore which ho should suggest was a small stamp duty of one penny on bimkora ' cheques , from which ho hoped to obtain at lenat 300 , 000 / . " Mr . Disraeli concluded by drawing a cheerful picture of tho financial prospects of tho country next year ( when ho anticipated that there would probably bo a ourplua revenue ) , nnd by expressing a liopo that his statement would receive , not only tho candid consideration , but in timo tho cordial acceptance , of the House and of tho people . —Tho delivery of thin speech ocoupiod

    about two hours and a quarter . Considerable discussion ensued , in which several of tho Irish mombora urged objections to tho increased duty on tho spirits oCthoir country , and Sir Guouois Coiink" \ vai . l Licwm doniod that there was anything fallacious in tho statement which ho ni-osonlod to tho House in roinu'd to tho roilonintion of debt last year . Hu 1 > " < 1 Fedoome ^ of Exchequer Bills ; ' 250 , 000 / . had boon rodcemod on tho war sinking fund , in . addition to the ordinary sinking fund of 77 , 80 " - ' / . ; and tho rodomption of tho Sound Duos had coat 1 , 125 , 200 / ,, making a total of i ) ,-171 , 008 / . In addition to this , thoy had paid out of rovenuo 0115 , 000 / . for tho Poreian expedition , 40 , 000 / . for ' the Princess Roynl's dowry , and a supplementary mini of half n million for militia expenses . They had also p « id muny oxponsce connoit . 'd with tho Indian mutiny . Whon all tUoso facts were tftUen into consideration , ho hoped tho

    Committee would . conclude that there was nothing fallacious or deceptive in the operations for the redemption of debt last year . With regard to the proposed postponement of the payment of Exchequer bonds , the operation was , in fact , the creation of a new debt . As respects the equalization of the spirit duties , he thought that the effect would be to the advantage of the Irish trade ; and he trusted that the right hon . gentleman would not consent to postpone the resolution , inasmuch as the delay would afford an opportunity for taking spirits out of bond , whereby the revenue would be diminished .

    Mr . Gladstone ( who spoke from his old place below the gangway on the Ministerial side of the House ) was pleased to find that the Budget had met with general support . He thanked the Chancellor of the Exchequer for his attempt to equalize the spirit duties , and could not understand the opposition of the Irish members . It was a subject for congratulation that there was to be no augmentation of the income-tax . The difficulty experienced in extinguishing that tax resulted from the expenditure of the country being vastly increased apai-t from war obligations . This increase of expenditure had prevented the progress of a system of policy which had proved of immense value to all classes of the country . If they really intended to get rid of the income-tax , they should review their entire system of expenditure . —Mr . CAnDWEU , supported the proposition for an

    increased duty on spirits . He doubted the advisability of abolishing the income-tax at the time proposed , as they would then be in a deficit , and recommended an incometax of twopence in the pound . —Mr . Wiluams thought that increasing a debt in . a time of profound peace was most objectionable and unjustifiable . He congratulated the Chancellor of the Exchequer on the manner in which lie had got over his difficulty this year . ( Laughter . )—Sir Francis Baring said he concurred in the opinion of the right hon . member for Oxford , that the only hope of getting rid of the income-tax is by a careful revision of expenditure . —Lord John Russell , thought the Government had proposed reductions as large-as the circumstances of the country would at present allow . He was in favour of the equalization of the duty on spirits . As to the war debt , he thought that a portion of it should be paid off this year .

    The Chancellor ok the Exchequer thanked the House for the candid reception it had given to his statement , and replied to various objections that had been made in the course of the debate . Resolutions embodj-ing the principles of the financial statement were then put and agreed to . —On the resolution with regard to the stamp upon cheques , Mr . Wilsox said that this was a resolution which was not subject to those financial necessities which attached to the duty on spirits . He would therefore venture to ask the Government not to press it through at once . —The Chancellor

    ok TUi ! Exchequer : " Certainly not , if there is any objection . "—The resolution was then withdrawn . — In answer to Sir II . Willoughby , the Chancellor of the Exchequer said he intended , when the business of the House would permit , to call attention to the whole subject of the account and appropriation of public monevs . ( Cheers . ) lie , would then state what were the measures which the Government intended to bring forward on the subject generally , and what arrangements it was proposed to make with regard to Exchequer Bills .

    The House resumed , and the Chairman reported progress . LOIU > 110 WDEN . Sir Dk Lacy Evans called tho attention of tho House to tho recal of Lord Howden . That act had caused great regret in Spain among all parties , and as no reason was ussigncd for tho proceeding , it had giveu rise to a fear that " tho presout Government meant to act towards Spain on less liberal principles than preceding Governments had done . —Mr . Seymour Fitzgkiiald denied that there existed tho slightest * ground for such an inference , nnil ho questioned tho right of the llouso to intorfuro in that which lies entirely within tho jurisdiction of tho Crown . — Lord Palmkuston boro testimony to tho zoal and ability of Lord Howden in tho discliargo of his duties , and regretted that the present Government should have scon reason to place tho interest of tho country in other hands . Still , ho agreed that tho mattor was not one for thu interference of the IIouho . —Mr . Kick also spoke highly of Lord Howden ; and the subject then dropped . BUPl'LY . Tho House having gone into Committee of Supply , tho following votes were ngreod to , after some disciiHHiou : — 2 , 000 , 000 / . to pay oft" Exchequer bonds , duo in May , IHftb" ; 81 , 671 / . to complete the Bum for wages in tho naval establishments abroad ; 797 , 742 < . to complete tho sum for naval stores , purchaso of steam ma « oliinory . , ttnd-Pth . w » puryQatta ^^^ Tho i-rOAN fcocniTiKH BiLi- was road a thinl time , and pnssod . GOVItnSMKNT OF INDIA ( NO . 2 ) BILL . On tho order for the second reading of tho MinisterinJ hill for tho Government of India , it was postponed until Friday . I'OOH LAW AMIWnMlBNT ACT . ' Mr , Ckohh obtiiimul leave to bring in a bill to amond tho Act 6 S > George HI ., ch . 12 , ' ? to amond the laws for tho relief of tho poor . "

    The House adjourned at twenty minutes past twelve o'clock . Titesday , April 20 lk . THE GOVERNMENT OF INDIA . In the House of Lords , Lord Monteagle inquired whether the Government intended to lay before the House the resolutions to be moved in the House of Commons relating to the reconstruction of the Government of India . In the case of the union with Ireland , and the renewal of the charter of the East India Company in 1833 , Parliament proceeded by resolutions , which were laid before both . Houses simultaneously . —The Earl of Ellenisorouoh stated that the Government did not intend to lay any resolutions on the subject before the House of Lords . He trusted they would be very shortly sent up from the other House , when their Lordships would have the opportunity of discussing them . The Customs Bill was read a third time , and passed . BARREL-ORGANS . The Marquis of Westmbath presented a petition signed by upwards of four hundred householders in the districts of I 3 elgravia and Pimlico against the nuisance of barrel-organs in the streets of the metropolis . It was a very hard case , when a gentleman ¦ of limited means had engaged a professor of music to give lessons to his daughter , to have one of these organs grinding beneath the window . The petitioners stood on their right to have the quiet of their homes maintained inviolate ; and , though noble Lords might laugh , it seemed to him to be no laughing matter . —Lord Dungannon rebuked the Marquis for making " much ado about nothing . " It was unseemly and inopportune to take up their Lordships ' time on such a trifling subject . —The petition was ordered to be laid on the table .

    TRANSACTION OF BUSINESS . On the motion of Lord Redesdale , it was ordered that no bill be read a second time after the 27 th of July , except bills of Supply , or snch bills as the House may specially exempt from the order . Their Lordships then adjourned . LAW OF BANKRUPTCY . In the House of CoiiitONS , in reply to Mr . Glyn , the AriofiSEY-GESEBAL said he had been charged by the Lord Chancellor to prepare a bill for the amendment of the law of bankruptcy and insolvency . The bill was in an advanced state of preparation , and he expected that it would be in a condition to lay before the House of Lords by the end of next week or the beginning of the following week .

    THE MILITIA . Iii answer to Captain O'Connell , the Chancellor ok the Exchequer stated that , on the disembodiment of the militia , subalterns would receive six months' pa }' , the surgeon and assistant-surgeon one year ' s pay , and the paymaster would continue his pay for three months after the disembodiment , and would also receive three months' pay after the final settlement .

    THE NEW ZEALAND LOAN GUARANTEE COMMITTEE . Lord Stanley , in replying to Sir John Trklawn y , said that he had examined the minutes of tho House of Representatives of Kuw Zealand , and found that a resolution was passed providing for the contingency of a loan of only 200 , 000 / . being granted . Tho resolution bore date the 2 nd July , 1856 . With respect to whether tho House of Representatives had negatived the proposal to accept 200 , 000 / . instead of 500 , 000 / ., he was bound to say that there was no trace of such a proceeding in the Records of tho Colonial-office . DUHLLN PORT DUKS .

    Mr . Vancb moved for a select committee to consider certain duties on ships and other imposts leviable within the port of Dublin . The duties had been imposed for the purpose of liquidating tho cost of a refugo harbour ; but lie only wanted inquiry into tho effect on the trade of Dublin . —Mr . IIenluy admitted that iho mode of levying thin tax was injurious to trade ; but thcro wuh an awkward eloment in the question—namely , that thcro had boon a bargain whioh involved tho interosta of tho Consolidated . Fund . This waa u ma , ttcr which touched tho Chancellor of tho Exchequer . Ho ( Mr . Henloy ) did not object to an inquiry . —Tho motion

    wns supported by Mr , Guooan . — The Chancellor of thic Exchequuu said ho should oppose any attempt to relieve Dublin of the tax in question . But , if tho moUo iu which it wn » levied was injurious , ho had no objection to tho grievance being remedied , lie should not oppose tho committee—Mr . J . D . FrosawRAjLu ( while admitting that tho question was so entangled that ho coald not understand it—an ignorance whioh ho believed was shared by nil present ) thought that Dublin hud some griuvanoua to complain of , ' from which it should bo relieved . — Mr . Lowk « aid tho Consolidated Fund had a claim on tho harbour for somothing like 400 , 000 / ., for

    ^ lTicir"fn ^ SK'o'dTo arly-nbout-8000 ^ -or-loBs-tli « u--oiio per oont . ; and ho agreed that tho Chancellor of tho Ex olu'diier was not . moporly culled upon to forego that receipt from the port of Dublin . —Lord Palmwkhton thought that the committee should bo rcstriotod in tho ni / iunwr suggested by tho Chancellor of tho Exchequer . A . ftor n low words in roply from Mr . ¦ Vawob , the resolution Cultural to an inquiry into tho mod < 3 of lo-vying duties and other Imposts on certain ships in tlio port of Dublin , and whether any equivalent can bo provided fov

    No. 422, April 24, 1858.] The Lead Ejr. ...

    No . 422 , April 24 , 1858 . ] THE LEAD EJR . 387

• Citation
  • Leader (1850-1860), April 24, 1858, page 3, in the Nineteenth-Century Serials Edition (2008; 2018) ncse-os.kdl.kcl.ac.uk/periodicals/l/issues/cld_24041858/page/3/